Nuzzle shows how the muzzle can be taken off pet insurance data collection
Anglo-American pet insurance software expert Aquarium says latest pet tech innovations like Nuzzle will help insurers and pet parents alike, contributing to more intuitive pet premium pricing in the future. And while Nuzzle’s introduction to the market is refreshing, it’s pet technology integration and collaboration that will see the pet insurance industry truly mature and develop, according to Aquarium.
Aquarium’s management information technology platform provides both insurers and pet owners with up-to-date insurance data on their furry friends, something that is crucial in a country where only 2-3% of all Americans have any form of pet insurance at all.
Nuzzle is a smart collar tag which lets owners collect and collate a variety of information on their pet, something the CEO of Nuzzle hopes will encourage pet owners to sign up for pet insurance.
Mark Colonnese, VP at Aquarium Software Inc., says that Aquarium’s technology platforms can not only manage information in a similar way – but will permit and promote the integration of other technologies as well, offering insurers and customers the most holistic and comprehensive data profiling possible.
“Our belief is that technology should ultimately provide pet owners with reassurance that their companion is safe,” said Mark. “But there’s a lot more to it than that. Insurers want to know what risks pets and pet parents are exposing their pooches to; by harnessing the best technologies around and integrating them into one solution, insurers and owners could have access to a level of information that will see fair premium pricing based on actual behavioural risk. Much lower premiums for low risk pets and owners could help drive the market, so there’s plenty to be gained for the industry as well as the consumer.”
In America, 47 per cent of all households have dogs, with up to 37 per cent having a cat. Figures also show however that only around 2-3% of all American have any form of pet insurance.
“Pet insurance needs all the help it can get when it comes to extending its consumer reach in the US, and a marriage of technology and data is the smart way to do that,” said Mark. “If more pet owners realised the power technology can contribute towards their pet’s health and ultimately happiness and well-being, more people would responsibly insure their pets. The technology’s already there – we’re living proof of that – so it’s time more owners and their furry friends signed up,” concluded Mark